If you have a credit card, you probably know each card has different tier levels. The platinum level is by far the highest. Platinum credit cards offer a string of luxury benefits, even more than gold or silver tiered credit cards.
You have to meet stringent qualifications in order to gain platinum card status — oftentimes, some of these cards are offered invitation-only. If you want rewards for your purchases, know what platinum card lenders expect out of you.
Here’s how to get a platinum card, with some tips to ensure you qualify.
Know Which Platinum Card to Get
The first step is knowing which platinum card you want. Just about every major credit card company offers a platinum credit card. They all come with different perks and qualification requirements.
Not all platinum credit cards require strict standards, such as the UMB Platinum Credit Card.
This one is flexible and isn’t as strict with their standards. Others are more affordable with no annual fee, such as the Capital One Platinum Credit Card.
Other platinum credit cards are specific for certain cardholders, such as the Wells Fargo Business Platinum Credit Card.
Others offer the best of everything. The First Progress Platinum Prestige Mastercard has minimal qualification standards, affordable fees, and can be used for everyday purchases and even travel. Learn more here.
Meet the Qualifications
Each platinum card requires different qualifications. You can expect a platinum card to require any of these qualifications:
- A specific credit score
- Age (at least 18 or 21)
- Afford the annual fee
- Few debts
- Citizenship or residency in a specific country
It’s best to look at a few platinum card companies and compare their requirements.
Apply for the Card
Once you know which card you want and you’re confident you meet all of the standards, it’s time to apply for the card.
Every credit card company has its own application process. You can usually apply:
- Online
- At the bank
- Over the phone
It’s recommended you apply online. If you can visit the bank’s physical location, a bank employee can help you through the application process.
- You’ll need specific information on you. This includes:
- Your basic information (name, address, etc.)
- Contact information (phone number, email address, etc.)
- Social security number
- Income information (salary, employer, etc.)
Depending on where you apply, the bank may ask if you already have an account with them. If so, provide your existing account information.
From here, you wait to get approved. These days, you can discover you’re approval almost instantly.
Did You Qualify for a Platinum Credit Card?
Did you qualify for a platinum card? If you did, you’re on your way to luxury living! If not, don’t feel bad. It’s likely you don’t have enough money.
Before you apply for another platinum card, you should find ways to increase your income. Did you know you can earn $10k very easily? Find out all of the ways to put an extra several thousand dollars in your bank account.